VIRGINIA RETIREMENT SYSTEMS ET Al Has $29.36 Million Holdings in Northern Trust Corporation $NTRS

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 37.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 218,100 shares of the asset manager’s stock after selling 130,400 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Northern Trust were worth $29,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in shares of Northern Trust in the second quarter valued at approximately $25,000. AlphaCore Capital LLC grew its position in Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after acquiring an additional 97 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. Clearstead Trust LLC bought a new position in Northern Trust during the second quarter worth $29,000. Finally, GFG Capital LLC acquired a new stake in shares of Northern Trust during the 2nd quarter worth approximately $35,000. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 3,891 shares of Northern Trust stock in a transaction on Tuesday, November 4th. The shares were acquired at an average price of $128.57 per share, with a total value of $500,265.87. Following the purchase, the director directly owned 6,686 shares in the company, valued at $859,619.02. The trade was a 139.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Landers sold 766 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $124.35, for a total value of $95,252.10. Following the transaction, the insider owned 7,313 shares of the company’s stock, valued at $909,371.55. This represents a 9.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Stock Down 1.1%

NTRS stock opened at $138.13 on Wednesday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $141.25. The company has a market cap of $26.12 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 1.50 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.70 and a current ratio of 0.70. The business’s 50-day moving average is $131.98 and its two-hundred day moving average is $129.08.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the firm earned $2.22 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, December 5th. This represents a $3.20 annualized dividend and a yield of 2.3%. Northern Trust’s payout ratio is 37.30%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NTRS. Wall Street Zen upgraded Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday. TD Cowen increased their price target on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Keefe, Bruyette & Woods raised their price objective on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. Cowen reissued a “buy” rating on shares of Northern Trust in a research report on Thursday, October 23rd. Finally, Morgan Stanley upped their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “underweight” rating in a report on Wednesday, December 17th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $133.08.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.